Cryptology ePrint Archive: Report 2020/1176

Short Paper: PoSH Proof of Staked Hardware Consensus

Rami Khalil and Naranker Dulay

Abstract: This paper introduces the PoSH Consensus protocol, a novel work-in-progress construction for achieving Sybil-resistant Nakamoto-style probabilistic consensus on the contents of a cryptocurrency ledger in a permissionless decentralized network where parties stake their hardware’s computational power towards participation in leader election. PoSH aims to establish an openly mintable cryptocurrency that eliminates the requirement for block rewards and disincentivizes mining pools.

Category / Keywords: cryptographic protocols / blockchain, cryptocurrency, posh, consensus

Date: received 25 Sep 2020

Contact author: rami khalil at imperial ac uk

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Version: 20200925:185251 (All versions of this report)

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